Project Information 1
Common Core Management LSU. The following Work in Progress report shows two medical projects in progress. Complete the report by calculating the missing values (a,b,c,d,e,f,g, and h) and answer the following multiple-choice questions.
Work in Progress Report Data:
| Job Description | Revised Contract Amount (B) | Revised Estimated Costs (D) | Billed to Date (H) | Cost to Date (I) |
| Sierra MOB | 21,978,700 | 20,803,004 | 16,576,449 | 15,270,450 |
| VA Hospital | 876,615,150 | 843,952,138 | 338,285,590 | 311,198,009 |
Question 1
What is the missing value of (b)?
- a. 65.5%
- b. 73.41%
- c. 71.29%
- d. 55.74%
- e. 58.24%
Question 2
What is the missing value of (c)?
- A. 15,550,350
- B. 16,133,470
- C. 11,271,450
- D. 13,552,450
- E. 16,367,500
Question 3
What is the missing value of (d)?
- A. over 650,000
- B. Over 442,979
- C. over 1,305,999
- D. under 567,000
- E. under 2,305,999
Question 4
What is the missing value of (f)?
- A. 31.23%
- B. 36.87%
- C. 52.32%
- D. 67.45%
- E. 23.62%
Question 5
What is the missing value of (g)?
- A. 352,568,707
- B. 392,598,000
- C. 323,242,133
- D. 235,290,129
- E. 107,198,009
Question 6
What is the missing value of (h)?
- A. under 15,055,236
- B. under 16,055,016
- C. over 11,575,267
- D. over 25,087,581
- E. over 15,043,457
Project Information 2
The roll-up schedule below outlines a maintenance project. After 6 weeks on the project, the actual cost to date is 42,716.00. Based on a review of the project, activities A, B, and C are 100% complete. Additionally, activities D and E are 50% complete, and activity F is 20% complete. No other activities or work have started. Complete the four multiple-choice questions for a project status report.
Activity Data Table:
- Activity A: Duration 1 wk, Budgeted Cost 2,500
- Activity B: Duration 2 wks, Budgeted Cost 6,700
- Activity C: Duration 7 wks, Budgeted Cost 7,000
- Activity D: Duration 3 wks, Budgeted Cost 15,600
- Activity E: Duration 2 wks, Budgeted Cost 11,000
- Activity F: Duration 5 wks, Budgeted Cost 25,000
- Activity G: Duration 2 wks, Budgeted Cost 25,000
- Activity H: Duration 4 wks, Budgeted Cost 12,000
- Activity I: Duration 2 wks, Budgeted Cost 10,500
- Activity J: Duration 6 wks, Budgeted Cost 5,300
- Activity K: Duration 1 wk, Budgeted Cost 2,500
Question 7
What is the budgeted cost of work and the earned value of the project?
- A. BCWS = 40,800.00 BCWP = EV = 42,400.00
- B. BCWS = 40,800.00 BCWP = EV = 34,500.00
- C. BCWS = 41,800.00 BCWP = EV = 42,000.00
- D. BCWS = 39,500.00 BCWP = EV = 42,500.00
- E. BCWS = 40,500.00 BCWP = EV = 34,500.00
Question 8
Calculate the schedule variance and percent schedule variance.
- A. SV = +2,500 % SV = +5.35 %
- B. SV = +1,950 % SV = +5.30 %
- C. SV = +2,154 % SV = +5.39 %
- D. SV = -6,300 % SV = -15.44 %
- E. SV = -6,300 % SV = -12.32 %
Question 9
Calculate the cost variance and percent cost variance.
- A. CV = -8,216 % CV = -23.81%
- B. CV = +8,216 % CV = +23.85%
- C. CV = -1,160 % CV = -2.85%
- D. CV = -1,290 % CV = -2.74%
- E. CV = +7,822 % CV = +22.74%
Question 10
Calculate the percent complete and planned percent complete?
- a. PC = 26.03 % PPC = 32.14 %
- b. PC = 21.21% PPC = 27.0 %
- c. PC = 32.23 % PPC = 37.12%
- d. PC = 26.21 % PPC = 35.44 %
- e. PC = 28.03 % PPC = 33.14 %
Question 11
Calculate the estimate at completion.
- A. 142,512.65
- B. 152,415.62
- C. 148,655.23
- D. 160,254.32
- E. 155,214.36
Question 12
Calculate the estimate to complete.
- A. 109,699.62
- B. 110,542.36
- C. 105,423.65
- D. 108,235.14
- E. 112,412.36
Question 13
Calculate the variance at completion.
- A. Over budget by 19,412.36
- B. Over budget by 29,315.62
- C. Under budget by 25,412.36
- D. Over budget by 32,145.23
- E. Under budget by 20,123.65
Question 14
Calculate the to-complete performance index.
- A. 1.0521
- B. 1.1542
- C. 1.1022
- D. 1.0823
- E. 1.1214
Question 30
Daily logs should be completed each day during construction and should record any conditions that affect the work on that particular day
- True
- False
Answer: True
Question 31
6- The difference between current assets and current liabilities is called equity
- True
- False
Answer: False (It is called Working Capital)
Question 32
7- When using random sampling, if the number of samples is reduced to save on costs, the statistical tests may result in accepting unsatisfactory units
- True
- False
Answer: True
Question 33
8- Retainage is the amount of money that a contractor charges the Owner for overhead and profit
- True
- False
Answer: False (It is money withheld to ensure project completion)
Question 34
9- An environmental impact statement (EIS) is an example of a submittal that a contractor submits to the owner and architect for review during construction
- True
- False
Answer: False (It is a regulatory document typically handled during planning)
Question 35
10- Design-build is a type of delivery method that combines the constructor and designer into one entity
- True
- False
Answer: True
Question 36
11- A statistical t-test is used for quality control to determine if two sets of samples have the same mean
- True
- False
Answer: True
Question 37
12- Real estate is a long-term liability
- True
- False
Answer: False (It is a fixed asset)
Question 38
13- Construction companies in the U.S. typically use the GAAP accounting system
- True
- False
Answer: True
Question 39
14- IPD is a common delivery method used for very large, publicly-funded infrastructure projects
- True
- False
Answer: False (Procurement laws usually require traditional bidding)
Question 40
- This step in the value methodology is when the VE team calculates the value index.
- A. Audit
- B. Evaluation
- C. Implementation
- D. Pre-study
- E. Function analysis review
Answer: B. Evaluation
Question 41
- Of the following management activities, which one addresses defining the desired project objectives?
- A. Scoping
- B. Controlling
- C. Planning
- D. Managing
- E. Organizing
Answer: C. Planning
Question 42
- This document shows a company’s source of income, production costs, and other expenses for a given period of time.
- A. Income statement
- B. Work in progress report
- C. Balance Sheet
- D. Earned value analysis
- E. Cash Flow statement
Answer: A. Income statement
Question 43
- Which of the following is a type of quality control?
- A. Program management
- B. Poor design
- C. Appreciation
- D. Insurance
- E. Submittals
Answer: E. Submittals
AIA Payment Application Summary
The following questions are based on the AIA Document G702 (Application and Certification for Payment) and G703 (Continuation Sheet). These documents are used to track the financial progress of a construction project.
- AIA G702: Provides a summary of the contract sum, changes, total completed to date, retainage, and the current amount due.
- AIA G703: Breaks down the contract into specific line items (e.g., Masonry, Roofing, Mechanical), showing the scheduled value and the work completed for each.
Key formulas used in these calculations include:
- Total Completed and Stored to Date: Previous Application+This Period+Materials Stored
- Total Earned Less Retainage: Total Completed & Stored−Total Retainage
- Current Payment Due: Total Earned Less Retainage−Previous Certificates
Question 15
What is the missing value of (A)?
- A. $1,586,119.88
- B. $1,386,219.88
- C. $1,754,119.45
- D. $1,656,251.00
- E. $1,865,191.50
Question 16
What is the missing value of (B)?
- A. $125,911.00
- B. $155,911.99
- C. $135,850.99
- D. $163,754.99
- E. $145,921.50
Question 17
What is the missing value of (C)?
- A. $163,251.99
- B. $157,261.99
- C. $155,160.45
- D. $157,221.75
- E. $175,261.99
Question 18
What is the missing value of (D)?
- A. $1,428,857.89
- B. $1,482,558.89
- C. $1,548,325.89
- D. $1,284,657.99
- E. $1,582,857.85
Question 19
What is the missing value of (E)?
- A. $662,861.58
- B. $635,881.58
- C. $625,861.45
- D. $662,681.85
- E. $665,800.50
Question 20
What is the missing value of (F)?
- A. $1,039,032.11
- B. $1,035,321.11
- C. $1,253,032.11
- D. $1,149,032.21
- E. $1,930,222.21
Question 21
What is the current payment due?
- A. $661,110.00
- B. $954,458.78
- C. $604,661.10
- D. $662,861.58
- E. $1,586,119.88
Question 22
What is the missing value of (H)?
- A. $148,456.00
- B. $32,455.00
- C. $175,150.00
- D. $163,251.00
- E. $180,911.00
Question 23
What is the missing value of (I)?
- A. $35,215.00
- B. $17,450.00
- C. $55,235.00
- D. $64,763.00
- E. $24,567.00
Question 24
What is the missing value of (J)?
- A. 72.77%
- B. 73.64%
- C. 75.25%
- D. 70.12%
- E. 78.44%
Question 25
What is the missing value of (J) [for the Roofing row]?
- A. $14,999.00
- B. $15,900.00
- C. $19,300.00
- D. $10,500.00
- E. $5,400.00
Question 26
What is the missing value of (K)?
- A. $149.90
- B. $1,065.00
- C. $1,590.00
- D. $1,499.90
- E. $1,930.00
Question 27
What is the missing value of (M)?
- A. $1,559,119.88
- B. $1,586,119.88
- C. $954,458.78
- D. $604,661.10
- E. $2,704,041.00
Question 28
What is the missing value of (N)?
- A. $1,144,921.12
- B. $1,250,921.12
- C. $1,111,921.12
- D. $1,117,110.12
- E. $1,117,921.12
